Windermerehttp://spokane-north.windermere.com/blogs/windermere/posts
What’s In Store For The 2017 Seattle Housing Market?<p><img alt="" src="/uploads/ckeditor_assets/2/pictures/3441/content_seattle_columbia_pano2.jpg" style="width: 760px; height: 465px;" /></p>
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<p>2016 was another stellar year for the Seattle housing market, in which a surplus of buyers and a deficit of sellers drove home prices higher across the board. So, can we expect to see more of the same in 2017? Here are some of my thoughts on the Seattle/King County housing market for the coming year:</p>
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<ol>
<li>Our market has benefited greatly from very healthy job growth, driven in no small part by our thriving technology companies. Economic vitality is the backbone of housing demand, so we should continue to see healthy employment growth in 2017; however, not quite as robust as 2016. Migration to Seattle from other states will also continue in the coming year, putting further pressure on our housing market.</li>
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<li value="2"><strong>Are we building too many apartments?</strong>&nbsp;&nbsp;The answer to this question is &ldquo;maybe&rdquo;. I believe we are fast approaching oversupply of apartments; however, this glut will only be seen in select sub-markets, such as South Lake Union and Capitol Hill. Developers have been adding apartments downtown at frantic rates with many projects garnering very impressive rents. In the coming year, look for rental rate growth to slow and for concessions to come back into play as we add several thousand more apartments to downtown Seattle.</li>
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<li value="3"><strong>The Millennials are here!</strong>&nbsp;And they are ready to buy. 2016 saw a significant increase in the number of Millennial buyers in Seattle, and I expect to see even more in 2017. The only problem will be whether Millennials will be able to find &ndash; or afford &ndash; anything to buy.</li>
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<li value="4"><strong>Home prices will continue to rise.</strong>&nbsp;But price growth will taper somewhat. The market has been on a tear since bottoming out in 2012, with median home prices up by a remarkable 79% from the 2012 low, and 14% above the pre-recession peak seen in 2007. Given the fact that interest rates are now likely to rise at a faster rate than previously forecasted, I believe price appreciation will slow somewhat, but values will still increase at rates that are well above the national average. Look for home prices to increase by an average of 7.5 &ndash; 8.5% in 2017.</li>
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<li value="5"><strong>More homes for sale?</strong>&nbsp;I am optimistic that inventory levels around Seattle will increase, but it still won&rsquo;t be enough to meet continued high demand.</li>
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<li value="6">This is my biggest concern for the Seattle housing market. Home prices &ndash; specifically in areas with ready access to our job centers &ndash; are pulling way ahead of incomes, placing them out of reach for much of our population. This forces many buyers to move farther away from our job centers, putting additional stress on our limited infrastructure. We need to have an open discussion regarding zoning, as well as whether our state&rsquo;s Growth Management Act is helping or hindering matters.</li>
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<li value="7"><strong>New Home Starts/Sales.</strong>&nbsp;As much as I would love to say that we can expect a substantial increase in new homes in 2017, I am afraid this is not the case. Historically high land prices, combined with ever increasing construction and labor costs, slow housing development, as the price of the end product is increasingly expensive. This applies to single family development as well as condominiums. We should see a couple of towers break ground in 2017, but that&rsquo;s about all. Vertical construction is still prohibitively expensive and developers are concerned that there will not be sufficient demand for such an expensive end product.</li>
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<li value="8"><strong>Are we setting ourselves up for another housing crash?</strong>&nbsp;The simple answer to this question is no. While home price appreciation remains above the long-term average, and will continue to be so in 2017, credit requirements, down payments, and a growing economy will all act as protectors from a housing crash in Seattle.</li>
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<p>This blog originally appeared on <a href="https://windermereseattle.com/2016/12/29/whats-in-store-for-the-2017-seattle-housing-market/" target="_blank">Windermere Seattle Spaces and Places</a>.&nbsp;</p>
spokane-north.windermere.com/uploads/blog_post_featured_images/blog_post/images/1526/thumb_seattle_columbia_pano2.jpgWhat’s In Store For The 2017 Seattle Housing Market?http://spokane-north.windermere.com/blogs/windermere/posts/what-s-in-store-for-the-2017-seattle-housing-market
Thu, 29 Dec 2016 11:00:00 -0800http://spokane-north.windermere.com/blogs/windermere/posts/what-s-in-store-for-the-2017-seattle-housing-market
http://spokane-north.windermere.com/blogs/windermere/posts/what-s-in-store-for-the-2017-seattle-housing-marketThe Most Important Marketing Choice When Selling Your Home: The Price <p>There is often a temptation for sellers to overprice their home, but Windermere agent, John McKenna, shares why that is a big mistake. Get insight into the psychology of the homebuyer and how to find a real estate agent that understands the science of pricing your home.</p>
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<p><iframe allowfullscreen="" frameborder="0" height="360" src="https://www.youtube.com/embed/RlEGZtJSIDY" width="640"></iframe></p>
spokane-north.windermere.com/uploads/blog_post_featured_images/blog_post/images/1525/thumb_Screen_shot_2016-12-28_at_3.01.19_PM.pngThe Most Important Marketing Choice When Selling Your Home: The Price http://spokane-north.windermere.com/blogs/windermere/posts/the-most-important-marketing-choice-when-selling-your-home-the-price--2
Wed, 28 Dec 2016 15:45:00 -0800http://spokane-north.windermere.com/blogs/windermere/posts/the-most-important-marketing-choice-when-selling-your-home-the-price--2
http://spokane-north.windermere.com/blogs/windermere/posts/the-most-important-marketing-choice-when-selling-your-home-the-price--2Make Your Home Safe for the Holidays<p><img alt="" src="/uploads/ckeditor_assets/2/pictures/3434/content_HolidayLights.jpg" style="width: 760px; height: 502px;" /></p>
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<p>With all the cheer and celebration at this time of year, it&rsquo;s hard to believe anything bad could happen. However, statistics show there&rsquo;s a significant increase in home-related accidents, fires, and burglaries around the holidays. To protect your family, friends and property, heed these six suggestions:</p>
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<ol>
<li>Keep walkways, driveways and decks free of slippery ice or moss.</li>
<li>Have your fireplace professionally cleaned, and only use one artificial log at a time.</li>
<li>Check the batteries in all smoke detectors and make sure a working fire extinguisher is located on every floor, as well as the kitchen and garage.</li>
<li>Snuff out any candles before leaving the room (even for a short while), and make sure to always keep them in short holders with wide bases so they don&rsquo;t fall over.</li>
<li>For holiday lights: Only use outdoor lights / extension cords in the outdoors, and plug them into GFCI protected outlets; make sure all lights are UL-approved; know that the smaller bulbs are safer; never leave them on when you&rsquo;re not home.</li>
<li>Plug a few lamps and the TV or stereo into timers to make it appear someone is home while you&rsquo;re away. Also, ask a neighbor to park their car in your driveway, pick up any mail and keep an eye out for any suspicious activity.</li>
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<p>Making the extra effort to keep your home safe will always be the best gift you could give family, friends and other visitors.</p>
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spokane-north.windermere.com/uploads/blog_post_featured_images/blog_post/images/1522/thumb_HolidayLights.jpgMake Your Home Safe for the Holidayshttp://spokane-north.windermere.com/blogs/windermere/posts/make-your-home-safe-for-the-holidays--2
Mon, 19 Dec 2016 13:00:00 -0800http://spokane-north.windermere.com/blogs/windermere/posts/make-your-home-safe-for-the-holidays--2
http://spokane-north.windermere.com/blogs/windermere/posts/make-your-home-safe-for-the-holidays--2It’s Complicated: What’s Stopping Millennials from Entering the Housing Market?<p>More than thirty five percent of the 75.5 million Millennials in the United States still live at home, with their parents. So what is keeping them from making the move to a home of their own? According to Windermere&rsquo;s Chief Economist, Matthew Gardner, it&rsquo;s a unique combination of personal and financial factors.&nbsp;</p>
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<p><iframe allowfullscreen="" frameborder="0" height="360" src="https://www.youtube.com/embed/BqXYWFJBeQA" width="640"></iframe></p>
spokane-north.windermere.com/uploads/blog_post_featured_images/blog_post/images/1521/thumb_Gardner_121616.JPGIt’s Complicated: What’s Stopping Millennials from Entering the Housing Market?http://spokane-north.windermere.com/blogs/windermere/posts/it-s-complicated-what-s-stopping-millennials-from-entering-the-housing-market
Fri, 16 Dec 2016 11:00:00 -0800http://spokane-north.windermere.com/blogs/windermere/posts/it-s-complicated-what-s-stopping-millennials-from-entering-the-housing-market
http://spokane-north.windermere.com/blogs/windermere/posts/it-s-complicated-what-s-stopping-millennials-from-entering-the-housing-marketPerspectives: 2017 Forecast<p><img alt="" src="/uploads/ckeditor_assets/2/pictures/3423/content_content_content_TheKids_crop_4x6.jpg" style="width: 400px; height: 267px; float: left;" />Well, it&rsquo;s December; the time of year when we look to our crystal ball and offer our housing market predictions for the coming year. And by crystal ball we mean Windermere&rsquo;s Chief Economist, Matthew Gardner, who has been travelling up and down the West Coast giving his annual forecast to a variety of real estate and financial organizations. Last month&rsquo;s surprising election results have created some unknowns, but based on what we do know today, here are some thoughts on the current market and what you can expect to see in 2017.</p>
<p><strong>HOUSING SUPPLY</strong>: In 2016 the laws of supply and demand were turned upside down in a majority of markets along the West Coast. Home sales and prices rose while listings remained anemic. In the coming year, there should be a modest increase in the number of homes for sale in most major West Coast markets, which should relieve some of the pressure.</p>
<p><strong>FIRST-TIME BUYERS</strong>: We&rsquo;re calling 2017 the year of the return of the first-time buyer. These buyers are crucial to achieving a more balanced housing market. While rising home prices and competition will act as a headwind to some first timers, the aforementioned modest uptick in housing inventory should help alleviate some of those challenges.</p>
<p><strong>INTEREST RATES</strong>: Although interest rates remain remarkably low, they will likely rise as we move through 2017. Matthew Gardner tells us that he expects the 30-year fixed rate to increase to about 4.5 percent by year&rsquo;s end. Yes, this is well above where interest rates are currently, but it&rsquo;s still very low.</p>
<p><strong>HOUSING AFFORDABILITY</strong>: This remains one of the biggest concerns for many West Coast cities. Some markets continue to see home prices escalating well above income growth. This is unsustainable over the long term, so we&rsquo;re happy to report that the rate of home price appreciation will soften in some areas. This doesn&rsquo;t mean prices will drop, but rather, the rate of growth will begin to slow.</p>
<p>Last but not least, we continue to hear concerns about an impending housing bubble. We sincerely believe these fears to be unfounded. While we expect price growth to slow in certain areas, anyone waiting for the floor to fall on housing prices is in for a long wait. Everything we&rsquo;re seeing points towards a modest shift towards a more balanced market in the year ahead.</p>
spokane-north.windermere.com/uploads/blog_post_featured_images/blog_post/images/1518/thumb_content_content_TheKids_crop_4x6.jpgPerspectives: 2017 Forecasthttp://spokane-north.windermere.com/blogs/windermere/posts/perspectives-2017-forecast
Mon, 12 Dec 2016 09:00:00 -0800http://spokane-north.windermere.com/blogs/windermere/posts/perspectives-2017-forecast
http://spokane-north.windermere.com/blogs/windermere/posts/perspectives-2017-forecastSpreading Holiday Cheer this Season<p><img alt="" src="/uploads/ckeditor_assets/2/pictures/3413/content_Holiday_Drives2.jpg" style="width: 760px; height: 281px;" /></p>
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<p>Our Windermere offices really love the holiday season. It&rsquo;s a time when they can get together to collect food, host holiday events, and raise money to help those in need in their communities. From putting together Thanksgiving meals, to hosting food drives and auctions, our agents really get into the spirit of giving. Here are just a few of the events taking place throughout our network during the holiday season.</p>
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<p><strong>Jump Into the Holidays Bazaar</strong></p>
<p>On November 19, the <a href="http://windermerekelsolongview.com/" target="_blank">Windermere Kelso/Longview</a> office hosted its first holiday bazaar to benefit the Windermere Foundation, to provide support to local non-profits in the community that serve low-income and homeless families. More than 20 vendors participated in the bazaar, offering items to purchase for holiday giving. Over $1,300 was raised at this event.</p>
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<p><strong>Thanksgiving Meals for Dorothy House</strong></p>
<p>For the past 15 years, brokers from the <a href="http://windermerewhatcom.com/" target="_blank">Windermere Bellingham-Bakerview, Bellingham-Fairhaven, Birch Bay-Blaine, and Lynden offices</a> have gotten together to provide the ingredients to put together full Thanksgiving meals for Dorothy House, a local safe housing community for domestic violence victims. This year they assembled 24 meals for Dorothy House, which has 22 apartments for women and children.</p>
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<p><strong>Woodinville Winterfest</strong></p>
<p>For over 10 years, the <a href="http://windermerewoodinville.com/" target="_blank">Windermere Woodinville office</a> has hosted a holiday event at its office featuring photos with Santa and refreshments. This year, their annual event was a part of the November 27 <a href="http://www.visitwoodinville.org/event/woodinville-winterfest/" target="_blank">Woodinville Winterfest</a> and included a Woodinville Wine Country wine and beer garden, and local bites. Cash and toy donations were collected for <a href="http://forgottenchildrensfund.org/#who-we-are" target="_blank">The Forgotten Children&rsquo;s Fund</a>.</p>
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<p><strong>An Evening with The Great Gatsby</strong></p>
<p>This past month, the <a href="http://windermerevancouver.com/" target="_blank">Windermere Stellar offices</a> in Vancouver, Washington hosted their fourth annual live and silent auction to benefit the <a href="https://www.clark.wa.gov/childrens-justice-center" target="_blank">Children&rsquo;s Justice Center</a>. Nearly $200,000 was raised at this event. Through the Windermere Foundation, over $481,300 has been donated to the CJC over the past four years, which has helped them expand their family outreach and support program.</p>
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<p><strong>Windermere Wreath Fundraiser</strong></p>
<p>The <a href="http://ellensburgproperty.com/" target="_blank">Windermere Ellensburg office</a> is holding its second annual wreath fundraiser. Fresh 24-inch wreaths handmade by Snowshoe Evergreen can be purchased from the Windermere office from November 28 until supplies last. All proceeds benefit the Windermere Foundation, to assist local non-profits that provide services to children in need in the Ellensburg area.</p>
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<p><strong>16<sup>th</sup> Windermere for Kids Event</strong></p>
<p>Since 1998, brokers from the Windermere <a href="http://www.windermere.com/offices/bellevue" target="_blank">Bellevue</a>, <a href="http://www.windermere.com/offices/bellevue-south" target="_blank">Bellevue South</a>, <a href="http://www.windermere.com/offices/bellevue-west" target="_blank">Bellevue West</a>, <a href="http://www.windermere.com/offices/issaquah" target="_blank">Issaquah</a>, <a href="http://www.windermere.com/offices/redmond-1" target="_blank">Redmond</a>, and <a href="http://www.windermere.com/offices/kirklandyarrow-bay" target="_blank">Yarrow Bay</a> offices get together to hold a &ldquo;<a href="https://youtu.be/_ns-kTC10L8" target="_blank">Windermere for Kids</a>&rdquo; event in lieu of a company Holiday party. With help from local non-profit organizations, 100 children in need between the ages of 7 and 12 are selected to participate. Each child receives a $225 gift card to Target and is partnered with a broker who helps the child select gifts for members of their family. And a gift for each child is purchased as well. The gifts are then taken to wrapping stations that are manned by Windermere brokers. While the children wait for their gifts to be wrapped, there are photos with Santa, crafts, food and beverages to keep them busy.&nbsp;Almost $250,000.00 has been donated throughout the years.&nbsp;</p>
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<p><strong>Free Santa Photos &amp; Dickens Carolers</strong></p>
<p>The <a href="http://www.windermere.com/offices/seattlenorthlake" target="_blank">Windermere Northlake office</a> hosted its annual holiday event on December 3, featuring free photos with Santa and Dickens Carolers. Food donations are collected each year to benefit <a href="https://hopelink.org/" target="_blank">Hopelink</a>, a non-profit social service agency that provides services to families in need in North and East King County, WA.</p>
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<p><strong>Windermere Stellar Lloyd Tower Silent Auction</strong></p>
<p>The <a href="http://www.windermere.com/offices/portland-lloyd-tower-ne" target="_blank">Windermere Portland &ndash; Lloyd Tower office</a> is hosting a silent auction benefiting the Windermere Foundation on December 8. This night market will be full of gifts to bid on, including wine bundles, dinner parties, sporting events, gift certificates, &nbsp;and more.</p>
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<p><strong>8<sup>th</sup> Annual Spaghetti Feed/Auction</strong></p>
<p>Hosted by the <a href="http://www.windermere.com/offices/snohomish" target="_blank">Windermere Snohomish office</a> on December 10, this fun community event features live music while Windermere brokers cook and serve the meals. Tickets are $10 for a full dinner with dessert. Proceeds benefit the Snohomish Food Bank.</p>
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<p><strong>Mercer Island Youth and Family Services Holiday Program</strong></p>
<p>The <a href="http://www.windermere.com/offices/mercer-island" target="_blank">Windermere Mercer Island office</a> will host its 19<sup>th</sup> annual event for <a href="https://miyfsfoundation.wordpress.com/" target="_blank">Mercer Island Youth and Family Services</a> on December 12. The office gathers wished-for gifts and delivers them to MIYFS, which serves hundreds of local families.</p>
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<p><strong>3<sup>rd</sup> Annual Food Drive for Contra Costa &amp; Solano Counties</strong></p>
<p>From October 1 through December 15, agents from the <a href="http://www.windermere.com/offices/walnut-creek-diablo" target="_blank">Windermere Walnut Creek-Diablo Realty</a> and <a href="http://www.windermere.com/offices/el-sobrante" target="_blank">Windermere El Sobrante</a> offices are collecting food for the Food Bank of Contra Costa &amp; Solano Counties. Nearly 100 agents will collect food donations during this drive. The food bank serves 188,000 people each month and distributes over 50,000 pounds of food every day. Last year, these offices collected nearly 1,000 pounds of food. They hope to surpass this number this season.</p>
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<p><strong>Windermere Professional Partners Holiday Food Drive</strong></p>
<p>Each year, the Windermere Professional Partners offices in <a href="http://www.windermere.com/offices/tacomanorth-1" target="_blank">North Tacoma</a>, <a href="http://www.windermere.com/offices/tacomaprofessional-partners" target="_blank">Central Tacoma</a>, <a href="http://www.windermere.com/offices/tacomauniversity-place" target="_blank">University Place</a>, and <a href="http://www.windermere.com/offices/gig-harbor-professional-partners" target="_blank">Gig Harbor</a> hold an annual food drive &nbsp;to support a local food bank. All four office locations serve as donation drop-off sites, and agents also distribute paper bags throughout the community for the public to fill and bring in donations. This year the drive will support <a href="http://www.ghpfish.com/" target="_blank">FISH Food Bank</a> in Gig Harbor, as well as <a href="http://www.familiesunlimitednetwork.org/" target="_blank">Families Unlimited Network</a> in University Place.</p>
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<p><strong>5<sup>th</sup> Annual Gingerbread House Contest</strong></p>
<p>The <a href="http://www.windermere.com/offices/wailea" target="_blank">Windermere Wailea office</a> is hosting its 5th Annual Gingerbread House Contest to benefit the Windermere Foundation. Drop by their office in the Shops at Wailea to view all the gingerbread houses created by the office&rsquo;s agents and their families, and cast a vote for your favorite one. Voting ends on December 20. Ballots submitted will be entered into a raffle drawing for a $100 gift certificate. For every live/in-person vote cast in the office, a dollar will be donated to the Windermere Foundation.</p>
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<p><a href="https://store.windermere.com/content/foundation-donation" target="_blank"><img alt="" src="/uploads/ckeditor_assets/2/pictures/3414/content_Donate_button.jpg" style="width: 250px; height: 201px; float: right;" /></a>Thank you to everyone that supports the Windermere Foundation. Through these events, drives, as well as a variety of other fundraisers held by our offices throughout the year, the Windermere Foundation is able to continue to support non-profit organizations that provide services to low-income and homeless families throughout the Western U.S.</p>
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<p>If you&rsquo;d like to help, please consider donating to the Windermere Foundation. To learn more about the Windermere Foundation, visit <a href="http://www.windermere.com/foundation" target="_blank">http://www.windermere.com/foundation</a>.</p>
spokane-north.windermere.com/uploads/blog_post_featured_images/blog_post/images/1514/thumb_EllensburgRealEstate_22_.jpgSpreading Holiday Cheer this Seasonhttp://spokane-north.windermere.com/blogs/windermere/posts/spreading-holiday-cheer-this-season
Wed, 07 Dec 2016 11:01:00 -0800http://spokane-north.windermere.com/blogs/windermere/posts/spreading-holiday-cheer-this-season
http://spokane-north.windermere.com/blogs/windermere/posts/spreading-holiday-cheer-this-season